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Bank of America Still in Big Trouble
Bank of America Corp. (NYSE: BAC) may have settled on a $16.65 billion fine for mortgage law violations. However, if faces at least one more large lawsuit, customer service problems and pressure on earnings over the next several years. 247wallst.com
Submitted 2 years 96 days ago

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NC-based Bank of America wants $1.3B 'Hustle' verdict thrown out
Bank of America Corp. (NYSE:BAC) may have put a historically huge settlement in its rearview just last week, but that doesn't mean the Charlotte-based financial giant is finished with its legal maneuvering just yet. Dallas Business Journal
Submitted 2 years 96 days ago

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Halliburton reaches $1.1B settlement over Gulf of Mexico spill claims
Houston-based Halliburton Co. (NYSE: HAL) said Sept. 2 it has reached a $1.1 billion settlement over claims related to the April 2010 Deepwater Horizon disaster at the Macondo well in the Gulf of Mexico. Houston Business Journal
Submitted 2 years 96 days ago

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Georgia Power: Plant Vogtle still on time, within budget
The $14 billion nuclear expansion project at Plant Vogtle remains on schedule and within budget, Georgia Power Co. reported Thursday. Atlanta Business Chronicle
Submitted 2 years 96 days ago

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Dollar General raises Family Dollar bid to $9.1B
GOODLETTSVILLE, Tenn. -- Dollar General upped its bid for the rival Family Dollar chain and addressed an earlier roadblock, saying that it will more than double the number of stores it would shed to ease the antitrust concerns of its takeover target. The newest bid is worth $9.1 billion, or $80 per share, up from $78.50 per share in the previous offer. Miami Herald
Submitted 2 years 96 days ago

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90-room boutique hotel planned for downtown Chattanooga
A five-story, 90-room upscale boutique hotel is planned for downtown Chattanooga near the Walnut Street Bridge, and the proposal is drawing more support than a similar project two years ago. Chattanooga Times Free-Press
Submitted 2 years 96 days ago

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The Memphis Airport Is on a Mission to Become Its Own City
Quick: Name the busiest airport in America. It's not LAX, and it's not O'Hare; it's not Atlanta Hartsfield-Jackson or Miami International, the jumping-off point to Latin America. It's not any of the airports in metropolitan New York. No, it's Memphis International. Memphis is the busiest airport in the United States in terms of cargo traffic, and the second-busiest cargo airport in the world, bested only by Hong Kong. Citylab.com
Submitted 2 years 96 days ago

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When Labor Day Meant Something
Labor Day online specials at Walmart this year “celebrate hard work with big savings.” For brick-and-mortar shoppers near my home in Chicago, several Walmart stores are open all 24 hours of Labor Day. Remember, this is a company so famously anti-union that it shut down a Canadian store rather than countenance the union its workers had just voted in. The fact that Walmart “celebrates” Labor Day should draw laughter, derision, or at least a few eye-rolls. The Atlantic
Submitted 2 years 96 days ago

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'Revving' economy calls for higher wages, Obama says on Labor Day
MILWAUKEE (AP) -- President Barack Obama renewed his push for Congress to raise the minimum wage Monday in a buoyant accounting of the economy's "revving" performance, delivered on behalf of Democrats opening their fall campaigns for the midterm congressional elections. AL.com
Submitted 2 years 96 days ago

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NASA Is Making a Traffic Control System for Drones
NASA is not down with drones flying around town all willy-nilly and potentially electrocuting North West. The space agency is developing an air traffic control network near Moffett Field, California for unmanned aircrafts at 400 to 500 feet meant to put regulations in place. gizmodo.com
Submitted 2 years 96 days ago

 

 

 

Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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